Birchcliff Energy (TSE:BIR) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of Birchcliff Energy (TSE:BIR) from a sector perform rating to an outperform rating in a research report report published on Friday,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a report on Friday, November 15th. National Bankshares cut their target price on Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. TD Securities lowered their price target on Birchcliff Energy from C$5.50 to C$5.00 in a research report on Tuesday, October 1st. Finally, Cormark raised shares of Birchcliff Energy to a “strong-buy” rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$6.48.

Birchcliff Energy Stock Performance

Shares of BIR opened at C$5.79 on Friday. The company has a market cap of C$1.56 billion, a PE ratio of 36.19, a P/E/G ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a one year low of C$4.53 and a one year high of C$6.54. The stock has a 50-day moving average of C$5.25 and a 200-day moving average of C$5.61. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97.

Birchcliff Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend was Friday, December 13th. Birchcliff Energy’s payout ratio is 250.00%.

Insider Activity at Birchcliff Energy

In other Birchcliff Energy news, Senior Officer Hue Tran sold 28,600 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of C$5.10, for a total transaction of C$145,860.00. Also, Director Aaron Jeffery Tonken sold 200,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$5.53, for a total value of C$1,106,000.00. Over the last 90 days, insiders sold 260,000 shares of company stock worth $1,409,488. 1.55% of the stock is owned by company insiders.

About Birchcliff Energy

Birchcliff Energy Ltd is an intermediate oil and gas company that explores for, develops, and produces natural gas, light oil, and natural gas liquids. The company conducts its drilling program in resource plays located in the Peace River Arch region of Alberta. Birchcliff focuses on operating nearly all its high working production, which is surrounded by blocks of high working interest lands where it owns and/or controls the infrastructure.